Handelsbanken Fonder AB Has $1.07 Million Stake in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Handelsbanken Fonder AB lowered its stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 3.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 23,800 shares of the biopharmaceutical company’s stock after selling 900 shares during the period. Handelsbanken Fonder AB’s holdings in PTC Therapeutics were worth $1,074,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Venturi Wealth Management LLC acquired a new position in PTC Therapeutics during the 4th quarter valued at about $68,000. R Squared Ltd acquired a new position in PTC Therapeutics during the 4th quarter valued at about $79,000. KBC Group NV boosted its stake in PTC Therapeutics by 29.2% during the 3rd quarter. KBC Group NV now owns 2,232 shares of the biopharmaceutical company’s stock valued at $83,000 after purchasing an additional 504 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in PTC Therapeutics by 21.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,782 shares of the biopharmaceutical company’s stock valued at $104,000 after purchasing an additional 492 shares during the last quarter. Finally, Savant Capital LLC acquired a new position in PTC Therapeutics during the 4th quarter valued at about $210,000.

Wall Street Analyst Weigh In

PTCT has been the topic of several recent analyst reports. Citigroup lifted their target price on shares of PTC Therapeutics from $32.00 to $45.00 and gave the stock a “sell” rating in a research report on Wednesday, February 12th. Robert W. Baird lifted their target price on shares of PTC Therapeutics from $52.00 to $70.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Royal Bank of Canada lifted their target price on shares of PTC Therapeutics from $60.00 to $63.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. JPMorgan Chase & Co. lifted their target price on shares of PTC Therapeutics from $51.00 to $62.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 19th. Finally, StockNews.com cut shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, PTC Therapeutics has an average rating of “Hold” and an average target price of $58.85.

PTC Therapeutics Trading Down 0.8 %

NASDAQ:PTCT opened at $50.57 on Friday. The firm’s 50 day moving average is $46.87 and its 200 day moving average is $41.95. PTC Therapeutics, Inc. has a 12 month low of $24.00 and a 12 month high of $54.16. The stock has a market capitalization of $3.90 billion, a PE ratio of -8.51 and a beta of 0.62.

Insider Buying and Selling at PTC Therapeutics

In other PTC Therapeutics news, CAO Christine Marie Utter sold 879 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $50.10, for a total transaction of $44,037.90. Following the sale, the chief accounting officer now owns 63,442 shares of the company’s stock, valued at $3,178,444.20. The trade was a 1.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Neil Gregory Almstead sold 69,550 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $52.06, for a total transaction of $3,620,773.00. Following the transaction, the insider now owns 86,202 shares of the company’s stock, valued at $4,487,676.12. This trade represents a 44.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 218,590 shares of company stock valued at $11,264,023 in the last 90 days. 5.50% of the stock is currently owned by company insiders.

About PTC Therapeutics

PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines to patients with rare disorders in the United States and internationally. The company offers Translarna and Emflaza for the treatment of Duchenne muscular dystrophy; Upstaza to treat aromatic l-amino acid decarboxylas (AADC) deficiency, a central nervous system disorder; Tegsedi and Waylivra for the treatment of rare diseases; and Evrysdi to treat spinal muscular atrophy (SMA) in adults and children.